Associate, Settlement & Trust Fund Operations Job Code:
1133676 Skill Band:
United Kingdom - Chatham Type:
Permanent Date Posted:
10 May 2019 Associate, Settlement & Trust Fund Operations Chatham, Kent, About Us
All roles within Lloyd's have an integral part to play in the achievement of the Strategy and Vision 2025 and will contribute overtly to:
Lloyd's becoming a brand that is globally admired and recognised and respected for its reputation as the world's specialist centre for (re)insurance. Lloyd's will be known around the world for its integrity and will be a place where talented, diverse and socially responsible employees feel proud to work. This leadership role will practice and promote the principles of inclusive leadership and respect the value of diversity.
Group Finance's Vision is to be a Global group finance function that is at the heart of the business and decision making, with a Mission to be a trusted and valued strategic business partner. The Role
To provide the market settlement service for processing of all premiums, claims, reinsurance transactions, on behalf of the Lloyd's market, ensuring that it is an efficient and well controlled service which meets current and future business requirements. To provide a high class financial processing service across the Corporation, the Market and Overseas. What Will You Do?
What You'll Need
- To provide the market with a settlement service for both Central Accounting and Shared services, this includes carrying out initial checks and processing in accordance with laid down procedures and timeframes
- To ensure that each of the Lloyd's bank accounts are reconciled on a daily basis, minimising overdrafts and liaising with relevant parties
- To provide a quarterly settlement service for regulatory funding and bank billing process, this includes the US Situs Top Up, Canadian funding and US Billing
- To provide a financial processing service for the Lloyd's market, this includes recording/confirming the receipt of the instructions from Managing Agents and inputting cash transfers and third party payments into the appropriate banking systems to ensure that payments are processed accurately
- To operate the Letter of Credit (LOC) scheme for the Lloyd's market, this includes liaising with Xchanging, Citibank and Mendes and Mount to ensure that transactions are processed in accordance with the requests from the brokers and beneficiaries.
- To provide the Worldlink processing service for the Lloyd's market, this includes liaising with Citibank to book any required deals, authorisation and final release of payments into the banking system and management of queries with Xchanging/Citibank to ensure that payments are processed accurately.
- To provide a financial processing service to the Corporation and Overseas, this includes both the inputting and authorising of payments as required
- To ensure that management statistics are available as required.
- To identify process improvements where appropriate, ensuring that all business needs continue to be met. As part of this ensure that all control and procedure manuals are maintained
- To monitor and process large volume and high value transactions for and on behalf of Lloyd's market and Lloyd's corporation
- Systems: Webfocus, Citidirect, RBS Bankline, Paygate, RBC Web File Transfer, RBC Investor Services, Citibank New York Porta
As the successful candidate, you can expect to be rewarded with a competitive salary, an enviable range of benefits.
- Good numeracy and attention to detail is essential Ability to use excel is beneficial Strong interpersonal and communication skills, dealing with colleagues, external customers and suppliers at all levels.
- Understanding of banking systems and processes Knowledge of Lloyd's useful but not essential
- Financial background
- Understands that Lloyd's operate on behalf of the market and always seek to add value
- Acts dynamically and responsively to customer and market needs
- Seeks to ensure full, fair, straightforward and sincere exchanges within the market
- Behaves legally and uphold high ethical standards
- Is skilled and willing to have constructive conversations in challenging situations; avoids taking an easy route out
- Seeks to create valuable, high-impact solutions
- Places high value on effective working relationships and seeks to build and nurture them
- Shares information and insights with others so their work can benefit
- Brings the knowledge, experience and expertise needed to be credible in the role and keeps knowledge and expertise up to date
- Takes ownership for delivering against objectives
- Always produces work of the highest standards
To apply, please visit www.lloyds.com
We are committed to flexible working, therefore if you would like to consider this as a part-time opportunity, please email email@example.com
At Lloyd's we believe that innovation comes from having an inclusive culture of equality and diversity. We use ClearTalents to discover how we might help you feel welcomed, supported and able to do as well as you can when applying to work for us, including identifying any reasonable adjustments that we may need to make. Should you feel that you require reasonable adjustments during your application process we request that you please follow this link to create a ClearTalents user profile: